Skip to content
Socio-Economics History Blog

Socio-Economics History Blog

  • About

Socio-Economics History Blog

Socio-Economics History Blog

Stephen Lendman: Heading for Economic Collapse!

June 25, 2012 by mosesman
Global collapse super storm in the summer or fall of 2012?
  • Heading for Economic Collapse! 
    by Stephen Lendman, http://sjlendman.blogspot.sg/

    The late Bob Chapman predicted it years ago. So does Paul Craig Roberts. It could “destroy Western civilization,” he believes. Untenable political and financial decisions put US and European economies on a collision course with disaster. Bailouts and market manipulation delay the inevitable.
    – 
    A tipping point approaches. Only its timeframe is unknown. Money power runs world economies. Wall Street and giant European banks run Western societies.
    “Financial deregulation converted the financial system (into) a gambling casino….,” says Roberts. Zero interest rates destroy household savings. Media scoundrels suppress ugly truths.
    – 
    Western governments letting banking crooks scam the system for profits “is a system that is headed for catastrophic failure.”Bad news keeps getting worse. Public acknowledgement arrives late. Moody’s June 21 downgrade of 15 major banks conceded what’s been known for years.
    – 
    Giant Western banks are zombies. They’re insolvent. Taxpayer funded bailouts alone keep them operating. Moody’s warned last winter than downgrades were coming. So-called stress tests suppress more than they revealed.
     –
    Ellen Brown calls the “derivatives casino….a last-ditch attempt to prop up a private pyramid scheme.” It’s slowly crumbling under its own weight. JPMorgan Chase is considered America’s most stable bank. Brown calls it bankrupt. Evidence, she says, shows it’s acknowledged $2 billion loss perhaps exceeds $30 billion.
     –
    Roberts explained that America’s five largest banks hold $226 trillion in derivative bets. For example, JPMorgan’s total assets approach $2 trillion. Its derivatives holdings exceed $70 trillion. Its risk capital is about $136 billion. Its “derivative bets are 516 times larger than the capital that covers the bets.”
     –
    Goldman Sachs “takes the cake,” says Roberts. Its $44 trillion in derivatives speculation “is covered by only $19 billion in risk capital.” In other words, its bets are “2,295 times larger than” cash on hand covering them.
     –
    Derivatives bets by America’s five largest banks exceed US GDP over 15-fold. Corrupt politicians allowing it assure eventual economic collapse. Banking executives are serial liars. After Moody’s downgrades, Citigroup and Bank of America officials said its action failed to reflect “safeguards” in place for years.
     –
    Roberts destroyed their argument. So did Brown and other independent analysts. Moody’s and other rating agencies long ago lost credibility. They failed to acknowledge the sub prime crisis until headlines revealed it. They bogusly call toxic assets safe in return for large fees and big profits.
    –
    read more!

end

Post navigation

Previous Post:

Texe Marrs: Conspiracy of The ‘6’ Pointed Star! Sayanims Everywhere!

Next Post:

CNBC Admits We’re All SLAVES To CENTRAL BANKERS!

2 Commments

  1. thenewssa says:
    June 25, 2012 at 9:29 pm

    How about a fairer society via leveling the value of contributions of individuals? Check it out here:

    http://thenewsocialsecurity.wordpress.com/2012/06/25/the-new-social-security-position-paper/

  2. foreign exchange says:
    June 25, 2012 at 7:15 am

    Economic collapse is broad range of bad economic conditions from a severe, prolonged depression with high bankruptcy rates and high unemployment, such as the Great Depression, to a breakdown in normal commerce

Comments are closed.

Pages

  • About

Recent Posts

  • Bill Holter: Perhaps the Fed’s Plan is to Crash the System
  • Escape The System; Complete Shutdown Could Happen Fast | Bill Holter
  • Globalist Trojan Horse To End American Freedom: Article V. and The Constitutional Convention
  • Alex Jones Returns! Wednesday Live Must Watch: Russia Warns of Looming Armageddon As Ukraine Demands Nuclear Weapons – WEDNESDAY FULL SHOW 02/01/23
  • Situation Update, Feb 1, 2023: It’s TOO LATE for NATO to Win The War Against Russia
  • Is This The Year The DOLLAR Ends?
  • The Horrors Of Ukraine: Beheaded Jews and Child Organ Harvesting Operation Found In Ukraine
  • The Vaccinated Are Getting AIDS? Deaths In Germany Surge 276% As Immunocompromised Drop Dead?
  • For Any Western Politician Who Is Still Confused, Russia Clarifies the Stakes in War With Ukraine: ‘Loss of Conventional War Could Provoke Nuclear War’
  • General McMaster “BE READY FOR WAR WITH CHINA”, Covidians Start To Admit Unvaxxed Were The Winners
  • War, Market Meltdown & More War for 2023 – Gerald Celente
  • CDC Aware of Reports of ‘Debilitating Illnesses’ After COVID-19 Vaccination: Official
  • Gold Snatched Up by Central Banks at Fastest Pace in 55 Years
  • It’s Time for the Scientific Community to Admit We Were Wrong About COVID and It Cost Lives
  • Senior Pfizer Exec Caught on Tape Revealing Possible “Mutating” COVID Research, with Michael Knowles
  • Oh SH*T Pfizer Got CAUGHT (And It’s Worse Than You Thought)
  • US Is In A Controlled Demolition, Biden Scandal, Corruption, And Cultural Decay Signal Need For MAGA
  • Why Are Doctors Turning a Blind Eye to the vWaxcine Harms (Aseem Malhotra & Bret Weinstein)
  • Could IgG4 Response Lead to a Lack of Immune Response to C-19?
  • US Threatens Missiles, Jets, And Now Crimea, US Sees (Seeks) War with China by 2025

Archives

  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011

Categories

  • Disaster
  • Economics
  • Endtimes
  • Geo-Politics
  • History
  • Medicine & Health
  • Satire
  • Science & Technology
  • Social Trends
  • Uncategorized

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org
June 2012
M T W T F S S
« May   Jul »
 123
45678910
11121314151617
18192021222324
252627282930  
© 2023 Socio-Economics History Blog | WordPress Theme by Superbthemes